My 2014 Financial Plans

Each year I assign a word for the forthcoming year last years word was Joy and you can read more about it over on the Mad House and this years word Nurture.

However I thought it was high time I set an annual plan, in addition to my seasonal manifesto's

So for 2014 my financial word of the year is Prudence

prudence

ˈpruːd(ə)ns/

noun

1. 1.

   the quality of being prudent; cautiousness.

   "we need to exercise prudence in such important matters"

   synonyms:

   wisdom, judgement, good judgement, judiciousness, sagacity,shrewdness, advisability, common sense, sense "foresters argue about the prudence of drastic thinning" caution, cautiousness, care, carefulness, canniness, chariness,wariness, circumspection; far-sightedness, foresight, forethought; discretion "an elder counselled prudence" thrift, thriftiness, providence, good management, careful budgeting,economy, canniness, frugality, abstemiousness; forehandedness; raresparingness "thanks to his father's prudence, a fortune was made"

2. 
   

We have been in our home for nearly eight years and we really need to make some updates to it.  We need a new stair and hall carpet.  New bedroom furniture is needed for the boys as we bought the cheapest we could find when we moved in.

We also have some debt that we need to pay off before moving forward with this work.

So I plan to:

• Declutter and continue to sell things we no longer need or want.
• To only buy things we need.  
• To think twice about whether we need something.
• To continue meal planning and reducing food waste
• Look for new ways to bring additional income into the house.
• To use up what we already have.  I will not stockpile.  Specifically I will not buy anymore fabric until I use up my stash or sell it.